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52 Cards in this Set

  • Front
  • Back
What is the goal of an indexing technique?
to reflect how a cost has changed
Are entry and exit criteria utilized for phases?
What does a To-Complete Performance Index (TCPI) 20% higher or lower than the Cost Performance Index (CPI) indicate?
Estimate At Completion (EAC) not indicative of past performance
What might serve as the first clue that a project needs to be killed?
Which is more time-intensive, bottom-up or top-down estimating?
To which component of a project plan is a WBS attached?
to the Scheduled Tasks
What 'fudge factor' should be added to time estimates if you are a skilled PM but the team is not experienced?
1.5 - 2x
Who should be the first to know if a project loses an important resource?
the sponsor
What 'fudge factor' should be added to time estimates when neither the PM nor the team are experienced?
What is another term for earned value?
Budgeted Cost of Work Performed (BCWP)
What percentage should be added to time estimates to account for quality control?
The parametric technique is a blend of which two techniques?
linear regression and unit
What percentage should be added to time estimates to account for overhead?
What does To-Complete Performance Index measure?
What is the formula for the To-Complete Performance Index (TCPI)?
work remaining (BAC-BCWP) / funds remaining (BAC-ACWP)
What is the process of breaking deliverables and requirements down into their component parts called?
What factor does the unit technique require?
a per-unit cost
What is a cost driver?
any entity that has a direct relationship with a cost
What can be used to deal with team members who don't like each other?
team building
Does an SOW show costs?
no, only tasks to be performed
When would a PERT chart be used, as opposed to a Gantt?
when the project is large or complex
What is linear regression used for?
comparing the relationship between two variables
What is a simple, effective method of beginning rough decomposition?
sticky notes
Are entry and exit criteria used for tasks?
What two cost estimating techniques map one data element to another?
linear regression and parametric
Who should a possible scope change be communicated to first?
the sponsor
What is a status date?
the date when a measurement will be taken on how much has been spent on a task
Who signs the final project plan?
the sponsor
What is 'crashing a project'?
concentrating lots of people on a specific area to bring a deliverable in quickly
Why should SOW's be included in WBS's?
because they can affect dependencies
Which section of a project plan describes philosophical or political situations, technological climate, strategic attitudes, etc.?
Environmental Issues
When presented with a top-down budget, which constraint is most likely to be compromised?
What is the Budgeted Cost of Work Performed?
the estimate of how much the completed tasks should have cost
What component is at the beginning of a project plan?
the table of contents
What is the Budget At Completion (BAC)?
the budgeted cost of the entire project
What are the two most likely causes of budget overruns?
too much time spent on a task and an item that costs more than expected
What is the chief constraint in a top-down budget?
the budget
What team group is responsible for overall architectural control?
the technical group
What is the budgeted cost of work scheduled?
How much it should have cost to complete the work that was scheduled
What is the Estimate At Completion (EAC)?
the current estimate of cost at completion
What is an iterative process?
one that is done over and over
Does a positive variance indicate you are over or under budget?
What two things are required in order to proceed with a WBS?
sign-off by sponsor and consensus among stakeholders
When you discover a team member working on something out of scope, what are your two options?
put the item through change control or cancel item
What is the formula for Schedule Variance (SV)?
What is the formula for Cost Variance (CV)?
What is a baseline?
an estimated schedule before work begins
What is unit testing?
testing of each individual component of a project
What is a variance?
the difference between the actual and budgeted values
What is the formula for Cost Performance Index (CPI)?
What is a 'push'?
any effort to speed creation of a deliverable
What is the formula for Schedule Performance Index (SPI)?